Which of the Following Instances of Lending Is Most Likely

question 63

Multiple Choice

Which of the following instances of lending is most likely to be covered by the Truth in Lending Act (TILA) ?

• A)A savings and loan association extends a $30,000 credit to a retail consumer.
• B)An auto retailer extends a $25,000 credit to a buyer payable in five equal installments.
• C)An accountancy firm extends a $10,000 one-time credit to an employee.
• D)A bank extends a $20,000 credit to a farmer for use in agricultural purposes.

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Definitions:

Theoretical Syntheses

The integration of various theories or ideas into a coherent and comprehensive framework or model.

Sociological Theories

These are systematic ideas that attempt to explain how societies operate, evolve, and the interactions between different societal components.

Large-Scale Social Phenomena

Broad, complex social processes or patterns that affect large numbers of people across wide geographical areas or historical periods.

Theories of Globalization

Diverse perspectives and approaches used to analyze the processes of global interconnection and the impact of worldwide integration of cultural, economic, and political factors.